The Tesla boss offers to buy the whole of Twitter for $ 54.20 per share.
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– Twitter has an extraordinary potential. I want it triggered, writes Elon Musk in a letter to Twitter chairman Bret Taylor.
It comes out in a fresh announcement from the company sent to the US Financial Supervisory Authority.
The price of 54.20 dollars per share is 54 percent above the closing price on January 28, which was the first time Elon Musk bought shares on Twitter.
In total, the offer values the company at 43 billion dollars, corresponding to just over 375 billion kroner, according to Bloomberg.
– The offer is my last and best offer, and if it is not accepted, I will have to reconsider my position as a shareholder, Musk writes.
Elon Musk is the world’s richest man, and has an estimated fortune of 259 billion dollars, according to Bloomberg’s Billionaires Index.
The Twitter share is rising around 11 percent in the pre-trade, and is trading at the time of writing for 51 dollars per share.
Think the bid is too low
The analysis agency Vital Knowledge points out that the offer is too low for shareholders and the board of the company, as the company’s share stood at 70 dollars less than a year ago, Bloomberg writes.
Musk has hired the broker giant Morgan Stanley as a facilitator.
The offer on Twitter contains the number combination “420” which according to Bloomberg is often linked to marijuana, and further writes that Musk also used this number combination when he wanted to take Tesla off the stock exchange in 2018, which he received criticism from the US Financial Supervisory Authority.
Got board seat – said no
The offer from Musk comes just a week and a half after it was first announced that he had bought 9.2 percent of the shares in Twitter.
The same week, the company invited Musk to become a board member of the company. He later declined, which led to speculation that he might buy more of the company.
The reason is that in the original offer of a board seat, it was revealed that Musk was not allowed to own more than 14.9 percent of the Twitter shares all the time he sat on the board.
Musk has been very active in communicating about Twitter on Twitter in recent weeks. Among other things, he has proposed that the company’s head office in San Francisco should be rebuilt into a homeless shelter.
He also insisted on Twitter that they should get a “change” button, something the company later said they were working on.
At the New Year, the Norwegian Petroleum Fund owned 0.89 per cent of the shares in Twitter, which at that time was valued at NOK 2.7 billion. Even on Wednesday night, the Twitter share had risen 18 percent from New Year.
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